Bain 2026 M&A Report: Nearly Half of Tech Deals Now Include AI Component, Up from 25% in 2024
Bain & Company·medium signal
Bain's 2026 M&A Report reveals that almost half of tech deals now have an AI component, doubling from approximately one in four in 2024. The report identifies three categories for acquisition targets based on AI impact: revolution, transformation, or augmentation. PE firms are acquiring mid-market AI-native SaaS companies as platforms for vertical bolt-on acquisitions. Due diligence now requires evaluating differentiated IP, data workflows, and whether a company has genuine AI capabilities versus bolted-on features.